Chapter 7-8 Flashcards
(20 cards)
It is the process of gathering,analyzing,and interpreting information about a
market,including its customers,competitors,and trends. It served as a foundation for making
informed busisness decisions and helps businesses understand the dynamic of their industry.
Market Research
It is a common mistakes by launching without understanding your
target audience can lead to poor reception.
Skipping Market Resaerch
Type of research that focuses on numerical data,such as statistics or
market size,for measurable outcomes.
Quantitative Research
It means identifying current and emerging trends helps businesses stay
relevant and proactive.
MARKET TREND
Meaning if the product doesn’t clearly solve a problem or meet a
need,it will struggle to gain attraction.
Weak Value Proposition
Part of validating ideas that gauge demand through pre-orders,sign-ups,or
wait lists to see if people are genuinely interested in your idea.
Measured Demand
Key elements of competitive intelligence that identifies potential threats such as
new entrants or allowing businesses to respond proactively
Early Warning
It means overproducing misjudging the market demand can lead to
wasted resources.
Overestimating Demand
Key benefits of competitive intelligence that provides insights into market
gaps and how to position the company uniquely.
Better Positioning
Common mistakes of not studying competitors can result in
launching a product that lacks differentiation.
Ignoring Competitor Analysis
It is the process of gathering,analyzing and interpreting information
about competitors,industry trends and market conditions to inform strategic decisions.
Competitive Intellegence
Frameworks use in competitive Intellegence that analyze and contextualize the data
gathered.
SWOT
Type of market research that utilizes existing data from industry
reports,studies or public sources.
Secondary Research
A failure by allowing projects to balloon beyond their original objectives can lead
to delays,cost overruns and reduced quality.
SCOPE Creep
Framework in road mapping that focuses on achieving specific
business objectives. It includes measurable goals,initiatives,timelines and metrics to track
progress.
Goal-Oriented RoadMap
Roadmaps that highlights specific features to be developed and their
timelines. it’s useful for communicating with stakeholders who are interested in deliveries.
Feature-Based RoadMap
Steps in roadmapping that determine the purpose of your road map and who
should be involved.
Establish Goal
Aligns with measurable outcomes
OKR-ALIGNED ROADMAP
Steps in road mapping that cluster problems into bundles of works.
Create Theme
Roadmap that provides a chronological view of milestone and deliverables.
This roadmap is great for tracking progress and setting expectations.
Timeline Roadmap
